Quick facts: Metaverse Capital Corp

Market: CSE

Market Cap: -

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Crypto asset market has improved considerably through 2019

Sees big potential in Facebook cryptocurrency plans

Invests in resources, which lie at the heart of networks

What Metaverse Capital does:

Metaverse Capital (CSE:FORK) (OTCMKTS:GBCHF) does business in the emerging world of blockchain. For the uninitiated, blockchain is a kind of payment rail and is built to list records (in blocks), which are all linked.

The blockchain is useful because it is resistant to modification of the data. It is an open ledger that can record transactions between two parties and was invented in 2008 to serve as the public transaction record of the now well-known cryptocurrency called Bitcoin.

Metaverse is a spin-out firm from the cryptocurrency investment company Global Blockchain Technologies Corp, and its focus, put simply, is on helping blockchain networks scale up.

To do this, it operates four mining facilities in three countries and runs master nodes and service nodes on leading blockchain networks.

The group also offers blockchain-related technical and professional services and its shareholders are given access to the blockchain network services industry at large through a robust and diversified portfolio of investments.

But it is also an investor too and puts money into resources, which are the backbone of blockchain networks, rather than speculating on new crypto assets.

How is it doing:

Metaverse Capital changed its name from Global Blockchain Mining Corp in May this year as it diversified from crypto-mining into also developing and administering launches of tokens and digital assets, and using computing power to operate master nodes and service nodes.

A month later, it issued a strong second quarter update, revealing that the market capitalization for cryptocurrencies had more than doubled to US$286 billion from $125 billion, which augurs well for the firm's projects and investments

The firm's offerings are noticeably gaining traction this year. In May, the company was asked to advise on a $50 million crypto offering for Spend Group, which produces Visa-branded payment cards.

Metaverse was also approached by Hyperion, a security token exchange, to advise on an equity offering from Ocean Falls Blockchain Corp.

The company administered the IEO (initial exchange offering) for the NUVO token, which is the digital asset of the Nuvo network, a blockchain platform for decentralized social communities. In June, Metaverse said its partner Cannadex Labs was launching Highmiles, a new social community on the Nuvo network.

It also administered the IEO for blockchain-based sports betting platform MeVu Inc. During the 2018 FIFA World Cup, meVu had more than 89,000 user signups and more than 3,900 users placing predictions daily.

In June, Metaverse revealed it had been selected as a node operator for the BetaNet for Elixxir, which allows users to make high-speed payments and communications.

The company has also noted the announcement by social media behemoth Facebook (NASDAQ:FB) of the rollout of its proprietary cryptocurrency and platform, called Libra, which is set for 2020, and Metaverse is looking at how it could get involved.

Facebook unveiled Libra, alongside 27 other companies, such as PayPal, Mastercard and Visa, which combined with Facebook's huge reach - it has 2.5 billion users around the world - could see the cryptocurrency adopted in the mainstream.

What the boss says:

In June's second quarter earnings statement, Metaverse CEO Shidan Gouran said: "We look forward to a productive 2019 for both us and our partners, as crypto and blockchain begin to play a greater role in mainstream commerce."

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Metaverse Capital (CSE:FORK-OTC:GBCHF) CEO Shidan Gouran joined Steve Darling from Proactive Investors Vancouver to talk about Facebook's news cryptocurrency Libra.
Gouran talks about how Libra will work and how he hopes to capitalize on it with their company by attracting the millions of...

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